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EXCELLENCE. BANK ON IT.

EXCELLENCE. BANK ON IT. The Commerce/Metro Bank Model “ARE YOU GOING TO COST CUT YOUR WAY TO PROSPERITY? OR … ARE YOU GOING TO SPEND YOUR WAY TO PROSPERITY?” Source: Fans! Not Customers. How to Create Growth Companies in a No Growth World , Vernon Hill with Bob Andelman.

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EXCELLENCE. BANK ON IT.

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  1. EXCELLENCE.BANK ON IT.

  2. The Commerce/Metro Bank Model“ARE YOU GOING TO COSTCUT YOUR WAY TO PROSPERITY?OR …ARE YOU GOING TO SPEND YOUR WAY TO PROSPERITY?”Source: Fans! Not Customers. How to Create Growth Companies in a No Growth World, Vernon Hill with Bob Andelman

  3. The Commerce/Metro Bank Model“COST CUTTING IS A DEATH SPIRAL.”“OUR WHOLE STORY IS GROWING REVENUE.”“OVER-INVEST IN OUR PEOPLE, OVER-INVEST IN OUR FACILITIES.”Source: Fans! Not Customers. How to Create Growth Companies in a No Growth World, Vernon Hill with Bob Andelman

  4. Commerce/Metro:“We want them in our stores”7X. 7:30AM*-8:00PM. F12AM.*7:30 = 7:15/8:00 = 8:15

  5. “YESBANK”: “When we had a processing problem with MasterCard, it came to our attention that a customer couldn’t pay for their airline flights. A Metro Bank team member stepped in.She put the customer’s flights on her personal credit card so that the customer could still take advantage of a good deal, and later—with their permission, of course—transferred the money from their account.” Source: Fans! Not Customers., Vernon Hill with Bob Andelman

  6. “LOVE YOUR BANK AT LAST! DOGS RULE! KIDS ROCK! NO MORE STUPID BANK RULES!” 2,000,000* (*$8.6B/+17K jobs/20-20-20)

  7. AMERICA’S BEST RESTROOM

  8. Retail Superstars: Inside the 25 Best Independent Stores in America—by George Whalin

  9. JUNGLE JIM’S INTERNATIONAL MARKET, FAIRFIELD, OH:“An adventure in ‘shoppertainment,’ begins in the parking lot and goes on to 1,600 cheeses and 1,400 varieties of hot sauce—not to mention 12,000 wines priced from $8-$8,000 a bottle; all this is brought to you by 4,000 vendors. Customers from every corner of the globe.” BRONNER’S CHRISTMAS WONDERLAND, FRANKENMUTH, MI, POP 5,000:98,000-square-foot “shop” features 6,000 Christmas ornaments, 50,000trims, and anything else you can name pertaining to Christmas. …” Source: George Whalin, Retail Superstars: Inside the 25 Best Independent Stores in America

  10. JUNGLE JIM’S: “The props can also be a bit bizarre. Two men’s and women’s Porta Potties situated in the front area of the store look as though they belong on a construction site rather than in a food store. But they are false fronts, and once through the doors, customers find themselves in beautifully appointed restrooms. These creative facilities were recognized as … ‘AMERICA’S BEST RESTROOM’ … in the Sixth Annual competition sponsored by Cintas Corporation, a supplier of restroom cleaning and hygiene products. …”

  11. “BE THE BEST. IT’S THE ONLY MARKET THAT’S NOT CROWDED.” From: Retail Superstars: Inside the 25 Best Independent Stores in America, George Whalin

  12. MITTELSTAND(Germany: “AGILE CREATURES DARTING BETWEEN THE LEGS OF THE MULTINATIONAL MONSTERS”)

  13. Baader (Iceland/80% fish-processing systems) Gallagher (NZ/electric fences) W.E.T. (heated car seat tech) Gerriets (theater curtains and stage equipment) Electro-Nite (sensors for the steel industry) EsselPropack (India/tooth paste tubes) SGS (product auditing and certification) DELO (speciality adhesives) Amorim (Portugal/cork products) EOS (laser sintering) Beluga (heavy-lift shipping) Omicron (tunnel-grid microscopy) Universo (wristwatch hands) Dickson Constant (technical textiles) O.C. Tanner (employee recognition/$400M) Hoeganaes (powder metallurgy supplies) Hidden Champions* of the 21st Century: Success Secrets of Unknown World Market Leaders/Hermann Simon (*1, 2, or 3 in world market; <$4B; low public awareness)

  14. THE THREE RULES(SORTA PLUS ONE MORE)

  15. Michael Raynor and Mumtaz Ahmed (Deloitte): THE THREE RULES: How Exceptional Companies Think*: 1.BETTER before cheaper. 2.REVENUE before cost. 3.There are no other rules. (*Five years of research: From a database of over 25,000 companies from hundreds of industries covering 45 years, they uncovered 344 companies that qualified as statistically “exceptional”—then a final 27) Jeff Colvin, Fortune: “The Economy Is Scary … But Smart Companies Can Dominate”: They manage for VALUE—not for EPS. They get radically CUSTOMER-CENTRIC. They keep DEVELOPING HUMAN CAPITAL.

  16. LOVE YOUR BANK AT LAST! DOGS RULE! KIDS ROCK! NO MORE STUPID BANK RULES!“We never compete on price and we never compete on credit standards.”“People are willing to give up some [deposit] rate for great service.”

  17. #4: “How can we help?” UPStoUPS :UPS = United ProblemSolvers**Service Mark

  18. ON THE OTHER HAND …

  19. “Mr. Foster and his McKinsey colleagues collected detailed performance data stretching back 40 years for1,000U.S. companies.They found thatNONEofthe long-term survivors managed to outperform the market. Worse, the longer companies had been in the database, the worse they did.” —Financial Times

  20. LONG Tom Peters’ THE EXCELLENCE DIVIDEND: WORK THAT WOWS AND JOBS THAT LAST Private Company Managers Annual Meeting Metro Toronto Convention Center/19 April 2017 (This presentation/10+ years of presentation slides at tompeters.com; also see our annotated 23-part Monster-Master at excellencenow.com)

  21. Putting People (REALLY) First

  22. “You have to treat your employees like customers.”—Herb Kelleher “What employees experience, Customers will. The best marketing is happy, engaged employees.Your customers will never be any happier than your employees.” —John DiJulius, The Customer Service Revolution: Overthrow Conventional Business, Inspire Employees, and Change the World

  23. “In a world where customers wake up every morning asking, ‘What’s new, what’s different, what’s amazing?’ success depends on a company’s ability to unleash initiative, imagination and passion of employees at all levels—and this can only happen if all those folks are connected heart and soul to their work [their ‘calling’], their company and their mission.”—John Mackey (Whole Foods) and Raj Sisodia, Conscious Capitalism: Liberating the Heroic Spirit of Business

  24. 1996-2014/Twelve companies have been among the “100 best to work for” in the USA every year, for all 16 years of the list’s existence; along the way, they’ve added/ 341,567 new jobs, or job growth of +172%:PublixWhole FoodsWegmansNordstromCisco SystemsMarriottREIGoldman SachsFour SeasonsSAS InstituteW.L. GoreTDIndustriesSource: Fortune/ “The 100 Best Companies to Work For”/0315.15

  25. “It may sound radical, unconventional, and bordering on being a crazy business idea. However—as ridiculous as it sounds—joy is the core belief of our workplace. Joy is the reason my company, Menlo Innovations, a customer software design and development firm in Ann Arbor, exists. It defines what we do and how we do it. It is the single shared belief of our entire team.” —Richard Sheridan, Joy, Inc.: How We Built a Workplace People Love

  26. EXCELLENT customer experience depends … entirely … onEXCELLENT employee experience! If you want to WOW your customers, FIRST you must WOW those who WOW the customers!

  27. 1st-Line Leaders

  28. If the regimental commander lost most of his 2nd lieutenants and 1st lieutenants and captains and majors, it would be a tragedy. IF HE LOST HIS SERGEANTS IT WOULD BE A CATASTROPHE.The Army and the Navy are fully aware that success on the battlefield is dependent to an extraordinary degree on its Sergeants and Chief Petty Officers. Does industry have the same awareness?

  29. Training = Investment#1!

  30. In the Army, 3-star generals worry about training. In most businesses, it's a “ho-hum” mid-level staff function.

  31. Promotion

  32. Promotion Decisions(Legacy = 2/year)“life and death decisions”Source: Peter Drucker, The Practice of Management

  33. THE MORAL IMPERATIVE:PEOPLE DEVELOPMENT

  34. CORPORATE MANDATE #1 2016:Your principal moral obligation as a leader is to develop the skillset, “soft” and “hard,” of every one of the people in your charge (temporary as well as semi-permanent) to the maximum extent of your abilities. The bonus: This is also the#1 mid- to long-term … profit maximization strategy!

  35. INNOVATION I/Lesson50:WTTMSW

  36. WHOEVER TRIES THE MOST STUFF WINS

  37. “EXPERIMENT FEARLESSLY”Source: BusinessWeek, “Type A Organization Strategies: How to Hit a Moving Target”—TACTIC #1“RELENTLESS TRIAL AND ERROR” Source: Wall Street Journal, cornerstone of effective approach to “rebalancing” company portfolios in the face of changing and uncertain global economic conditions

  38. “FAIL. FORWARD. FAST.”—High Tech CEO, Pennsylvania“FAIL FASTER. SUCCEED SOONER.”—David Kelley/IDEO“MOVE FAST. BREAK THINGS.”—Facebook

  39. WTTMSASTMSUTFW

  40. WHOEVER TRIES THE MOST STUFF AND SCREWS THE MOST STUFF UP THE FASTEST WINS

  41. “You can’t be a serious innovator unless and until you are ready, willing and able to seriously play.‘Serious play’is not an oxymoron; it is the essence of innovation.”—Michael Schrage,Serious Play

  42. Big carts = 1.5X Source: Walmart

  43. Las Vegas Casino/2X:“When Friedmanslightly curvedthe right angle of an entrance corridor to one property, he was ‘amazed at the magnitude of change in pedestrian behavior’—the percentage who entered increased fromone-thirdto nearlytwo-thirds.” —Natasha Dow Schull, Addiction By Design: Machine Gambling in Las Vegas

  44. “YOU WILL BECOME LIKE THE FIVE PEOPLE YOU ASSOCIATE WITH THE MOST—THIS CAN BE EITHER A BLESSING OR A CURSE.”

  45. “The Bottleneck is at the …“Where are you likely to find people with the least diversity of experience, the largest investment in the past, and the greatest reverence for industry dogma …Top of the Bottle”— Gary Hamel/Harvard Business Review

  46. 10-Person BOARD OF DIRECTORS/Fit for the 2017 **AT LEAST TWO MEMBERS UNDER AGE 30. (Youth must be served/guide us at-the-top circa 2017—this is rare!!) **AT LEAST THREE WOMEN. (Boards with F-M balance lead to very high relative performance.) **ONE IT/DATA ANALYTICS/SOCIAL MEDIA SUPERSTAR.(Not an “IT representative,” but a Certified “Waterwalker” from, say, Google.) **ONE OR TWO ENTREPRENEURS—AND PERHAPS A VC. (The entrepreneurial bent must directly infiltrate the board.) **ONE PERSON OF STATURE WITH A “WEIRD” BACKGROUND—ARTIST, MUSICIAN, SHAMAN, ETC. (We need regular uncomfortable oddball challenges.) **A CERTIFIED “DESIGN GURU.” (Design presence at Board level is simply a must in my scheme of things.) **NO MORE THAN ONE-TWO OVER 60. (Too many Oldie Boards! Stop. NOW.) **NO MORE THAN THREE WITH MBAs. (Why? The necessity of moving beyond the emphases of the MBA-standard-predictable-linear-analytic-certified-vanilla model.) (Partial inspiration for this: Cybernetics pioneer W. ROSS ASHBY’S “LAW OF REQUISITE VARIETY.” The diversity of the Board should more or less match [be consistent with] the diversity [madness/2017] of the context/environment.)

  47. TGRs & the “8/80” Fiasco

  48. Customers describing their service experience as “superior”: 8% Companies describing the service experience they provide as “superior”: 80% —Source: Bain & Company survey of 362 companies, reported in John DiJulius, What's the Secret to Providing a World-class Customer Experience?

  49. <TGWand …>TGR(Things Gone WRONG-Things Gone RIGHT)

  50. “May I clean your glasses, sir?” “May I help you down the jetway, ma’am.”

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